Archive for August, 2014

How embarrassing…

Posted on Aug 30, 2014 by .

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  http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p83257770514&a=266398464 Extremely sophisticated denizens of places other than San Francisco know that the most glamourous theatre event of the city is that screamingly funny long running joke, Beach Blanket Babylon.  In our last letter we were embarrassed to find that we forgot the punchline to the joke.  A colleague of ours recently remarked that the […]

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Beach ball Babylon…

Posted on Aug 28, 2014 by .

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  (no link–go to stockcharts.com) The PnF chart thinks we have a target of 2040.  We think that is the lower end of targets.  An analyst we very much respect, Sam Eisenstadt, formerly at Value Line (http://www.marketwatch.com/story/sp-500-will-rise-to-2100-by-september-2014-03-12) looks for 2100 in the SPX.   As our readers know we don’t aim at targets, we aim […]

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New High…Correction over? Maybe…

Posted on Aug 22, 2014 by .

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    http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=10&dy=0&id=p24745056520&a=214966864 Some traders and investors are phobic about buying new highs, but best technical practice says just go ahead and do it.  Hesitators point out the fact that breakouts are always sold and fall back and this is often true.  But not  always.  Our practice has been to buy the breakout and then […]

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Relearning the ABGs…

Posted on Aug 19, 2014 by .

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  http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p83257770514&a=266398464 It appears that the market learned our game and threw us a curveball– or maybe a knuckler.  What looked at first like a B wave now is looking like the right side of a V.  So we are buying back some of our leveraged SPX positions.   Usually we would consider this aggressive, […]

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Looks like a B wave…

Posted on Aug 13, 2014 by .

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  http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p83257770514&a=266398464 As we opined Friday, it appearss that power bar was the start of the b wave.  Today appears to be a confirmation of that.  It is not impossible that this is the start of the reaction to the downwave, but long practice has persuaded us that waiting for a test of the low […]

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